Pzena Investment Management LLC Makes New $57.81 Million Investment in ScanSource, Inc. $SCSC

Pzena Investment Management LLC bought a new stake in ScanSource, Inc. (NASDAQ:SCSC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,109,743 shares of the industrial products company’s stock, valued at approximately $57,807,000. Pzena Investment Management LLC owned about 5.46% of ScanSource at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of ScanSource during the second quarter worth about $25,000. Royal Bank of Canada raised its holdings in ScanSource by 165.0% in the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock valued at $73,000 after buying an additional 1,168 shares during the last quarter. Osaic Holdings Inc. raised its holdings in ScanSource by 400.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after buying an additional 1,670 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in ScanSource during the 2nd quarter worth approximately $134,000. Finally, Tower Research Capital LLC TRC boosted its position in ScanSource by 672.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock worth $194,000 after buying an additional 4,032 shares during the period. 97.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SCSC. Northcoast Research cut shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday. Weiss Ratings raised shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Finally, Wall Street Zen upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.00.

ScanSource Price Performance

Shares of SCSC opened at $51.71 on Tuesday. ScanSource, Inc. has a 1 year low of $33.76 and a 1 year high of $59.60. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.86 and a quick ratio of 1.20. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.83 and a beta of 1.28. The business has a 50-day moving average of $52.79 and a 200-day moving average of $44.25.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.